Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   

Beef Buzz News


Latest Cattle on Feed Report from USDA Implies Fewer Pounds of Beef Available in 2023

Tue, 25 Oct 2022 10:17:51 CDT

Latest Cattle on Feed Report from USDA Implies Fewer Pounds of Beef Available in 2023 Senior Farm and Ranch Broadcaster, Ron Hays, caught up with Oklahoma State University Extension Livestock Market Economist, Dr. Derrell Peel and talked about the heifer numbers within USDA’s latest Cattle on Feed Report released on October 21.

The latest report issued is a quarterly report which includes extra data breakdown on steers and heifers. Peel says this extra data is especially useful in identifying where the United States stands in female herd liquidation.

Due to the drought and increased female liquidation, Peel said there is extra attention being paid to the quarterly breakdown of steers and heifers in feedlots.

“In July, the heifer inventory was up about 2.9 percent over the previous year for October 1 in this latest report,” Peel said. “We are still up about 1.5 percent, so it says that we have continued to keep heifers in there, it is coming down, and it will eventually drop.”

The number of steers in the feedlot is 2 percent less than a year ago, Peel said, and that number was smaller in July.

“There are fewer feeder cattle out there, but the fact that the heifer number has been higher is a testament to what the drought is doing and keeping us from being able to retain any of those heifers for breeding purposes,” Peel said. “They have been showing up in the feedlot chain with obvious implications as we go forward.”

Among those implications are eventually having fewer pounds of beef available into 2023 as fewer females are available to send to slaughter.

“We started the year thinking beef production would be down in 2022, but because we have extended slaughter, we have had to slaughter these extra females- both cows, and heifers, and we have maintained beef production, we think for the whole year we are going to be right at or perhaps even a smidge higher than last year’s record level, but really maintaining that record level in the short run,” Peel said.

In this quarter, Peel said he expects to see beef production on a weekly basis tighten up, which is going to set the stage for a significant decrease in beef production in 2023 and beyond.

“We are continuing to tighten it up,” Peel said. “We don’t know exactly where we will land on the beef cow herd as of January 1. I think we will be down very close to 3 percent if not even potentially a little bit more than that.”

Peel said we are edging closer to the same level of beef cow herds seen in January of 2014 after the last drought, which set up what took place in the markets for years after.

“We are going to be in a similar situation as of the beginning of 2023,” Peel said. “We are already well above where we were this time last year if you look at any feeder cattle prices, fed cattle prices across the board as far as those go.”

At any event, Peel said cattle prices are going to be higher in 2023, and at some point, there will be a significantly higher spike in prices once we get to the point where we are saving heifers for rebuilding, for rebreeding, and cutting cow culling.

“Those two things will have a significant impact on overall beef production and overall cattle numbers, and we will see the prices respond accordingly,” Peel said.


Click Here to see the latest Cattle on Feed Report from USDA.


Click the LISTEN BAR below to listen to Ron Hays and Derrell Peel talking heifer numbers in the latest Cattle on Feed Report.

The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is a regular audio feature found on this website as well. Click on the LISTEN BAR below for today’s show and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.


   

   

right-click to download mp3

 

WebReadyTM Powered by WireReady® NSI

 

Beef News

  • January Cattle on Feed Report Three Percent Under Year Ago- Derrell Peel Says Tighter Supplies Will Be Around for Awhile  Mon, 23 Jan 2023 05:15:04 CST
  • Derrell Peel Talks Latest Cattle on Feed Report- Showing Fewer Cattle on Feed, Lighter Placements and Stronger Marketings.  Mon, 26 Dec 2022 08:19:00 CST
  • Kara Lee with Certified Angus Beef Tells Cattlemen 'Cut the Bull'  Fri, 23 Dec 2022 14:30:39 CST
  • Beef Checkoff Utilizes Digital Marketing Techniques to Interact with Consumers   Thu, 22 Dec 2022 16:02:51 CST
  • Beef Checkoff Research, Education, and Promotion Efforts Point Consumers to Beef  Wed, 21 Dec 2022 16:15:46 CST
  • OSU Economist Derrell Peel Expects US Beef Export Strength to Continue Into the New Year   Tue, 20 Dec 2022 08:00:35 CST
  • NPPC's Michael Formica Feeling Positive About Supreme Courts Upcoming Proposition 12 Decision  Mon, 05 Dec 2022 10:08:27 CST
  • NCBA Fights to Improve Marketing Options for Cattle Producers  Fri, 02 Dec 2022 09:58:28 CST
  • Chinese Consumers Continue to Grow Appetite for U.S. Beef  Thu, 01 Dec 2022 09:23:49 CST
  • Merck Creates Value for Producers and Consumers with Technology and Biopharmaceuticals   Wed, 30 Nov 2022 09:55:28 CST
  • NCBA’s Todd Wilkinson Ready to Fight Back Against Regulatory Overreach in the Cattle Industry   Tue, 29 Nov 2022 10:13:33 CST
  • NCBA and PLC Call ESA Listing Plan of Lesser Prairie Chicken Punitive for Cattle Producers in Southern Plains  Wed, 23 Nov 2022 14:51:02 CST
  • November Cattle on Feed Report Confirms October Pattern of Lower Placements and Tighter Cattle Numbers in Feedlots  Tue, 22 Nov 2022 05:07:02 CST
  • Turning the Corner- OSU's Derrell Peel Sees Tighter Cattle Inventories into 2023 in Latest Cattle on Feed Report  Mon, 21 Nov 2022 04:36:33 CST
  • Turning the Corner- OSU's Derrell Peel Sees Tighter Cattle Inventories into 2023 in Latest Cattle on Feed Report  Mon, 21 Nov 2022 04:27:40 CST
  • Midterm Elections to Set Stage for What Can Be Expected in 2023 Farm Bill  Mon, 07 Nov 2022 12:13:57 CST
  • USMEF's Dan Halstrom Remains Cautiously Optimistic about Strong Beef Demand Going Forward  Thu, 03 Nov 2022 09:35:46 CDT
  • Economic Factors Create Hesitancy in Beef Plant Expansion Plans  Wed, 02 Nov 2022 11:03:34 CDT
  • NCBA's Mike Simone Says Consumer Interest in Fake Meat is on the Decline  Tue, 01 Nov 2022 11:41:02 CDT
  • Beef Remains Valued Product for Consumers as it Allows Them to Stretch their Dollar  Mon, 31 Oct 2022 09:15:56 CDT
  • Hugh Aljoe Provides Methods to Begin and Maintain Good Land Stewardship  Fri, 28 Oct 2022 09:30:13 CDT
  • Implement Soil Health Practices Now to Increase Forage Production when Rains Come  Thu, 27 Oct 2022 15:14:07 CDT
  • Third Beef. It's What's For Dinner. 300 Promotes the Beef Industry on a National Level  Wed, 26 Oct 2022 15:32:23 CDT
  • Latest Cattle on Feed Report from USDA Implies Fewer Pounds of Beef Available in 2023   Tue, 25 Oct 2022 10:17:53 CDT
  • OSU's Derrell Peel- Lower Placements and Smaller On Feed Number Highlight October Cattle on Feed Report  Sun, 23 Oct 2022 12:45:37 CDT
  • Beef Checkoff Research Continues to Share Beef Sustainability Story with Consumers  Fri, 21 Oct 2022 09:23:36 CDT
  • Beef Checkoff Research Works to Ensure Consumers Beef is a Product They Can Trust  Thu, 20 Oct 2022 13:44:44 CDT
  • Odds for Significant Wheat Pasture Going Lower Daily in the Southern Plains  Wed, 19 Oct 2022 14:35:46 CDT
  • NCBA Weighs in on California's Proposition 12   Tue, 18 Oct 2022 11:32:24 CDT
  • 2022 Stockyards Steak Out Takes Oklahoma Beef to the Next Level  Mon, 17 Oct 2022 11:09:07 CDT
  • Holding Onto Your Cow Herd a Little Longer is Projected to Pay Off, says Randy Blach  Fri, 14 Oct 2022 08:14:05 CDT
  • Randy Blach Confident in Better Cattle Market Conditions Down the Road  Thu, 13 Oct 2022 09:43:02 CDT
  • No Imports or Exports Would Result in a Smaller U.S. Beef Cattle Industry  Wed, 12 Oct 2022 16:11:15 CDT
  • Derrell Peel Explains Why International Trade of Beef is Valuable  Tue, 11 Oct 2022 08:19:29 CDT
  • Animal Agriculture Hopeful for a Win as U.S. Supreme Court Looks at California's Proposition 12   Mon, 10 Oct 2022 09:26:17 CDT

  •  

       

    Ron salutes our daily email sponsors!

    Oklahoma Beef council Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment Oklahoma City Farm Show Union Mutual Stillwater Milling Oklahoma Cattlemen's Association KIS FUTURES, INC.
       
       
       
       
       
       

    Search OklahomaFarmReport.com

    © 2008-2024 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.